SEC chairman seeks compromise on international swaps regulation
Securities and Exchange Commission Chairman Elisse Walter wants domestic regulators to rely on international rules for cross-border swaps when they are equivalent, while preserving U.S. regulators' right to impose their rules when no comparable ones exist. "The domestic regulator would continue to have the ability to apply certain key policy requirements of local law when foreign law does not impose comparable requirements or provide comparable protections," Walter said. Reuters
|How Much Do You Really Need to Make? The Answer May Shock You|
Rather than focus on what you can afford to pull out of the business to cover your living expenses, you need to focus on how much you need to earn at your business in order to afford the lifestyle you want to have. This is where the Personal Earnings Goal, or PEG, comes into play. Learn how to calculate your PEG and find out how much you really need to make.
Report: Futures hedging will be contingent on liquidity level
The regulatory overhaul in the derivatives market initiated by the Dodd-Frank Act will encourage market participants to use swaps futures as a hedging instrument, but only if they trade with enough volume to provide liquidity, a Finadium report says. "Swap dealers will be incentivised to use swap futures for their margin efficiencies -- lower initial margin than cleared [over-the-counter] swaps and cross-margining with other products traded and cleared by an exchange -- but will only stay if there is liquidity," the report says. The Trade News (U.K.)
|Transformational Journeys: Modern Business Planning|
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.
Choice in OTC derivatives reporting is fine, ESMA says
The European Securities and Markets Authority has released guidance that says reporting of over-the-counter derivatives doesn't have to be performed by the same entity that cleared the transaction. The Commodity Futures Trading Commission is in a dispute with market participants regarding the same issue. The Trade News (U.K.)
Split starts to emerge over European transaction tax
Officials involved in negotiations for a proposed tax on financial transactions in 11 EU nations are struggling to agree on the implementation timeline, possible exemptions and the scope of the levy. "The member states are divided; there is no unity about what the FTT will cover," said James Hughes, an account manager at Cicero. Many public-affairs experts are predicting that European leaders will rein in the tax. Financial News Online (U.K.) (subscription required)
Commentary: Lawmakers err in weakening Dodd-Frank
Mike Konczal of the Roosevelt Institute questions the wisdom of the House Agriculture Committee's move last week to adjust the Dodd-Frank Act. "[T]hese rules are a bad idea, especially when financial reform is still being implemented. Lawmakers should realize that they would be dismantling important parts of the bill, rather than tinkering along the edges, if these proceed," Konczal writes. The Washington Post/Wonkblog
|Get this daily email summary written by expert editors|
As a valued SmartBrief reader, we are pleased to offer you a complimentary subscription to SmartBrief on Social Business. More than 90,000 of your peers count on this resource for essential news on the intersection of social media and business. Activate your free subscription today.
ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.
Please contact one of our specialists for advertising opportunities,
editorial inquiries, job placements, or any other questions.